Field notes for better buildings
Practical thinking for owners and operators who want clearer records, stronger execution, and smarter commercial real estate decisions.
AI ran a marathon. CRE took a walk.
AI moved faster than any technology shift in modern history. Real estate moved like it always has.
The end of the easy decade.
Cap rates compressed for a decade on cheap money. They expanded in 18 months. Now what?
The quiet repricing of industrial.
Single-tenant NNN warehouses are the calmest-looking assets in real estate. The fundamentals beneath them are not.
The diligence gap.
Every other industry uses AI to compress months of work into hours. Real estate is still scheduling the kickoff meeting.
Office is not dead. It is bifurcating.
The office sector is being declared dead every quarter by people who have not been in one since 2019.
The measurement gap in property operations.
You cannot manage what you cannot measure. Most CRE operations cannot measure most of what they do.